Niveus Investments Limited (JSE:NIV) agreed to spin off 93.75% of Niveus Invest 19 Limited on March 14, 2017. Under the terms of the transaction, Niveus Investments shareholders will receive 3.619 Niveus Invest shares for every 1 Niveus Investments share held on the record date. The distribution ratio is subject to change if the number of Niveus Investments or Niveus Invest shares in issue changes prior to the record date. The transaction is subject to approval by Niveus shareholders, approval by the Board of Directors of Niveus, regulatory and statutory approvals and contingent upon approval of the separate transaction. As of August 16, 2017, the anticipated record date for the transaction is October 20, 2017. The effective date of the transaction will be August 1, 2017, which is the first business day of the month following July 31, 2017, which is the last date by which the conditions precedent should be fulfilled. As of October 30, 2017, the record date for the transaction is November 10, 2017, and the deal is expected to be completed on November 13, 2017. ENSafrica acted as legal advisor to Niveus Investments Limited. Niveus Investments Limited (JSE:NIV) completed spin off 93.75% of Niveus Invest 19 Limited on November 10, 2017.